Blue Coat Systems Inc.(BCSI) In A Bearish Zone

Blue Coat Systems Inc. (NSADAQ: BCSI) slipped over 23% by early afternoon trading on Friday, as the company forecast a sales of $136 on the higher side, trailing the analysts’ estimate of $131.8 million. Blue Coat Systems Inc. (BCSI) has already breached below its long term support level of 200 day MA in the process following the wide gap-down opening on Friday.

Blue Coat Systems Inc. (BCSI) is unlikely to find any major support before a level of around $15, from where it showed the reversal on the last instance at least one year back in May. The strong levels noticed on Blue Coat Systems Inc. (BCSI) in trading today confirmed that the stock is likely to search for lower bottoms in near future.